When we think of retail holidays in the US, we think of Prime Day, Black Friday, and Cyber Monday. But internationally, one retail holiday is so massive that it generates more sales than Black Friday and Cyber Monday combined. That retail holiday is known as Single’s Day, and it’s put on by the e-commerce giant Alibaba Group Holding Ltd.
What is Singles Day (11/11)?
Single’s Day (also known as 11/11) is a 24-hour shopping event that offers millions of discounted products to shoppers in China through Alibaba. While the event is usually short, Alibaba joined other retailers this year in extending its retail holiday to run for more than a week, Nov. 1 through Nov. 12. 2020 was wildly successful for Single’s Day as the e-commerce platform made a record-breaking $74 Billion in sales over an 11-day period.
Then there’s Double 12 (12/12)
Double 12 (12/12) is another Alibaba event that’s making its mark as a rising star event in the e-commerce platform. It’s essentially the sequel to 11/11, sort of like how Cyber Monday is seen as the sequel to Black Friday. Here’s the twist – the main focus of the holiday, and its advertising, is to shine a light on discounts from small and medium-sized brands that may not be getting the same visibility against larger brands during 11/11.
2020 marked the 10th year of Double 12, portraying a decade’s worth of importance to the Alibaba platform. Though sources say 12/12 usually doesn’t get nearly as much build-up as 11/11, Double Twelve is fast on the rise and along with Single’s Day, is worth paying attention to.
Takeaways from Alibaba, Single’s Day, and retail holidays in general?
Retail holidays come in a variety of shapes and styles. They build off each other — Amazon taking notes from Alibaba and vice versa. But at the end of the day, the anticipation factor is what fuels the hype and excitement amongst consumers, getting shoppers in the mood to shop, and creating an enjoyable experience. It’s a win-win for both consumers and brands.